The current state of Cyprus’ economy mirrors a well-known political retort from Greek history. During his first term as Prime Minister of Greece (1955–1963), Konstantinos Karamanlis (1907–1998) proudly declared that Greece was prospering. In response, George Papandreou (1888–1968), then the leader of the opposition, sharply countered: “The numbers indeed prosper, whereas the people suffer.”
Papandreou’s comment, delivered decades ago, still rings true today, not just in Greece but globally, and especially in Cyprus. Despite the recent (19/09/2025) upgrade of Cyprus’ credit rating by DBRS Morningstar from “A (low)” to “A” with a stable outlook, the reality for most Cypriots remains unchanged. While economic indicators like GDP and international ratings may reflect growth, for the majority of workers in Cyprus, wages have been stagnant since 2011. Meanwhile, the costs of essentials such as fuel, food and rent continue to climb.
The credit rating upgrade is undoubtedly a positive development for Cyprus, but it hardly paints a complete picture. The “beauty” of the economy that global financial agencies celebrate is only skin deep, as the majority of ordinary Cypriots continue to struggle with rising living costs.
Papandreou’s observation that official statistics can often mask the struggles of everyday people is just one example of a recurring disconnect between political narratives and the reality citizens experience. This disconnect is particularly evident in the evolution of political communication. Over the last few decades, the role of spokespersons – now popularly known as “spin doctors” – has become a key feature of political and economic discourse.
The term “spin doctor” emerged in the 1980s and quickly took on a negative connotation. A spin doctor is someone who shapes or distorts the truth to create a more favorable image of a person, organization, or policy. Often, the “spin” departs from the truth, making it less about substance and more about style. The sad reality is that many voters, or “hoi polloi” (the many, the masses), tend to be swayed by these carefully crafted images, rather than the substance behind them.
Today, Cyprus faces a paradox: the economic indicators are healthy, but the lived reality for most people tells a different story. The country’s improved credit rating is an achievement on paper, but it doesn’t reflect the day-to-day struggles of the Cypriot population. Economic growth and financial stability, while important, haven’t translated into tangible improvements for everyday Cypriots.
The economy may be growing, but for many citizens, it feels like a distant achievement that hasn’t reached them. The saying “Beauty is only skin deep” seems especially apt here. On the surface, the economy might look strong and resilient, but beneath that exterior, the reality for most people is far less glamorous.
Cyprus stands at a critical juncture. The real question is whether the recovery will be inclusive. Can the benefits of improved credit ratings, financial health, and international recognition be shared more equitably? Until that happens, the economic “beauty” touted by global financial agencies will remain just that – a superficial image, far removed from the daily struggles of most Cypriots.
*Author of bilingual books (In English & Cypriot Greek)
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